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Leaked document embarrassing for Panthers on several levels

Jerry Richardson AP

The headline at Deadspin.com proclaims the Panthers made a $112 million profit over a two-year span, according to a leaked financial document.

While a business valued at $1 billion making money might not be the biggest news, the document does create two obvious problems for the Panthers.

The first would be the leak itself, as the league works hard to keep books closed for its non-Packers members (an accountant somewhere is about to get fired).

But the bigger problem is one of public perception, and that might be more costly.

The Panthers are in the middle of a campaign to get public funding to upgrade 17-year-old Bank of America Stadium, and the city has already offered to help. State funding is harder to come by, with North Carolina governor Pat McCrory (a former mayor of Charlotte) saying there were no funds to give.

That’s an easy statement for a politician to make, and part of the normal noise of such negotiations.

But the documents that show rich people getting rich only add fuel to the fire of public opinion, and will make it harder for them to convince people to share their money, even if they’re not necessarily making more than any other team in the league.

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103 Responses to “Leaked document embarrassing for Panthers on several levels”
  1. thereisalwaysnextyear says: Mar 7, 2013 5:14 PM

    That’s an awful return on capital unless adjusted for what they actually paid for the team and not what it’s worth. There are plenty of companies that get public tax breaks that have a much higher rate of return. It’s not what the Panthers made that’s important re:tax payer assistance, but what do they bring to the table re:tax generations, jobs etc etc. They probably generate more for the local economy than they make in profit by far.

  2. Kyle Orton's Hangover says: Mar 7, 2013 5:19 PM

    Can I have a million?

  3. keylimelight says: Mar 7, 2013 5:19 PM

    I love this story and the timing of it.

    Hang in there Governor.

  4. Steeley McBeam says: Mar 7, 2013 5:21 PM

    I doubt the Bengals generate much more revenue than that but they’re 55 million under the cap. At least Richardson is spending his return on putting a more high quality product on the field. Whether or not hes done that ‘well’ is a different story.

  5. justintuckrule says: Mar 7, 2013 5:21 PM

    Which means they made nearly double that because they had to share those profits with players. So, if my math is correct, $200M in 2 years…call it $100M per year x 32 teams equals $3.2B in total profit for NFL owners (which is probably much more because Carolina is in a tiny market).

    Basically, the cap should be higher. The players are getting jipped.

  6. phailing101 says: Mar 7, 2013 5:22 PM

    Jerry Richardson bought it for $206M in 1993 so I think he’s doing alright.

  7. jimbo75025 says: Mar 7, 2013 5:22 PM

    @thereisalwaysnextyear

    Richardson paid a tad over 200 million for the franchise ~20 years ago. The sports landscape has changed in the interim until sales prices now are based on revenue and not profit. Still, recovering half of the initial investment on a “modern” purchase in 2 years is not that bad.

  8. firstroyal says: Mar 7, 2013 5:23 PM

    Wait, what? the panthers, footing the bills are only making around 60 million a year profit, and the players who rely on the the panthers to make money are nearly doubling that profit margin at around 120 million a year

    shame on them?

  9. 808raiderinparadise says: Mar 7, 2013 5:23 PM

    I am not the best at understanding politics of financial take home and funding between city and something like a stadium /team/org/owner BUT ….

    something is clearly wrong with this.

  10. benroethlisberger7 says: Mar 7, 2013 5:24 PM

    Panthers will be moving to…

  11. munny10 says: Mar 7, 2013 5:25 PM

    Hilarious! Looking forward to the fallout and drama as requests for public financing move along.

  12. dmartin17 says: Mar 7, 2013 5:28 PM

    Just another reason why no city should ever give these teams money for stadiums.

  13. jerrygray721 says: Mar 7, 2013 5:30 PM

    big oil makes that in a week . why aren’t they writing stories about that? as for the panthers or any other team if that is somewhere around the average these players better start slowing down with these outragous payday’s or there wont be any for anyone else. but what do most of them care atleast they got paid screw everyone else right?

  14. purpleguy says: Mar 7, 2013 5:30 PM

    So did a ticked off Carolina staffer leak that stuff or the Governor?

  15. silverhornet says: Mar 7, 2013 5:30 PM

    Fascinating! NFL team financial statements, there’s something you don’t see every day (outside of the Packers of course).

    Should be noted that they would have been in the red by about $21m for FYE 2012 without the “income from investment in NFL Ventures L.P.” amount.

  16. dmartin17 says: Mar 7, 2013 5:31 PM

    This just in: Private business makes modest profit. So what’s the big deal here?

  17. bubbybrister/shovelpass says: Mar 7, 2013 5:32 PM

    Awesome!
    Where do I sign for my PSLs?

  18. bflobacker says: Mar 7, 2013 5:32 PM

    In Buffalo where we have probably the cheapest ticket prices and smallest market, I wonder how much Ralph is bringing in each year. The stadium is old but he’s had zero debt forever. He bought the team for $20k but used too always cry broke.

  19. trevor123698 says: Mar 7, 2013 5:32 PM

    People need to learn the real reason these things are publically funded. It is for when the time comes that economic collapse has occured and this nation is on the brink of destruction. these stadiums will be used as FEMA camps and coordination centers much like the super dome was used during katrina. You will call this opinion insane but that is the real reason

  20. bucrightoff says: Mar 7, 2013 5:32 PM

    Give the rich credit, they’ve figured out how to game the system

    Things going bad? Socialize losses
    Things going good? Privatize profits

    It’s really sad that they ever ask for stadium money, and thankfully I think the Loria/Marlins debacle may finally bring an end to the insanity.

  21. expatpatfan says: Mar 7, 2013 5:34 PM

    Richardson was one of the hardline owners during the lockout who claimed he couldn’t make money.

  22. dcapettini says: Mar 7, 2013 5:34 PM

    I am not from Charlotte but as I remember, the stadium is owned by the Panthers, not the state or city. So Richardson wants the government to invest money to make the venue more valuable, but still retain 100% ownership. Hey, nice work if you can get it!

    As for the argument that the Panthers generate more for the area than they make in profit, why can’t we make the same argument regarding all the government workers and contractors that our Republican friends want discharged. They generate more for the economy than we will save by putting them in the unemployment lines.

  23. robert831 says: Mar 7, 2013 5:34 PM

    I hope they don’t get a cent from the city or the state… All of these teams have plenty of money and are profitable. They should be building and maintaining their own facilities and stadiums. I find it hard to believe they wouldn’t want to so they could have full control and take in all the revenue. It is unfortunate many of the wealthy are so greedy. Take from the public to put it in their own pocket. I’m not sure how they can sleep at night.

  24. randylaheytpb says: Mar 7, 2013 5:35 PM

    Several economic studies done over last few years show that stadiums do not add much to local economy in net terms, not nearly as much as owners would like taxpayers to think. If I’m a Charlotte resident, I want my taxes going to my kids’ schools and maybe a few other places. Not to subsidize a billionaire with $112 million in profit over two years.

    Sure I’d probably be a Panthers fan, but what has Jerry Richardson done for me lately? Besides ask for money, of course.

    It is no surprise that NFL franchises make this money and I don’t have a problem with it. But seeing some numbers – granted, I am no CPA – makes me all the less sympathetic to their “plight” and sick that they have the gall to ask for their fans’ and local taxpayer money. I’ll take a clean city with good schools over a football team any day.

    What a country we live in.

  25. packerbackernj says: Mar 7, 2013 5:37 PM

    Even the factory of sadness makes money.

  26. nmrdr795 says: Mar 7, 2013 5:43 PM

    Somebody explain why the 53 man roster can only make 123 million? The cap in the nfl is robbery

  27. citizenstrange says: Mar 7, 2013 5:44 PM

    Why do you think the owners absolutely refused to open their books in the negotiations with the NFLPA last year?

    Because their profits are JAW DROPPING that’s why.

  28. vbe2 says: Mar 7, 2013 5:45 PM

    A for profit organization making a profit! Oh the scandal!!

    You people are morons.

  29. rubicon202 says: Mar 7, 2013 5:46 PM

    this is nothing new?

  30. jagsfan1 says: Mar 7, 2013 5:46 PM

    wait…this is about The Panthers finances?

    Oh…I thought someone on the team twitter pic’d their johnson or something…

    nevermind

  31. bullethead527 says: Mar 7, 2013 5:49 PM

    So the NFL is a 9 Billion to 14 Billion dollar company, but the Panthers only made 112 million profit over 2 years, were the hell is the rest of the money going?

  32. dalucks says: Mar 7, 2013 5:50 PM

    Jerry Richardson should sell the Panthers to Bruton Smith. Smith has much deeper pockets and would not ask for tax money to renovate or build a new stadium.
    Besides, anytime someone needs money but will not show you their financials is suspicious? If you file for bankruptcy, you have to prove that you are in financial hardship before you receive help so keep that in mind the next time one of these alledged billionaire owners need money to build or renovate a stadium.
    Billionaire owner sounds more like greedy bastards.

  33. ttommytom says: Mar 7, 2013 5:51 PM

    Regarding jobs and all that: The money is going around in a circle. Nothing is being exported. No money is being brought in.

    So people who spend money at a football game would then spend it at say, a restaurant if the tram moved thus creating the job that was lost. That’s the circular money thing.

    Richardson, Goodell the players and coaches are making great money. The rest of the employees would just be employed elsewhere…

  34. matthewcarlson1 says: Mar 7, 2013 5:51 PM

    I still don’t get why the taxpayers have anything to do with these stadiums. Can i get a couple million to add on to my business? No. So why should they get anything? Its not like they provide a free service to people. We get taxed for the stadium and have to pay ridiculous prices to attend games there.

  35. tdk24 says: Mar 7, 2013 5:52 PM

    That doesn’t seem like a lot of profit for an NFL team. Compare that number to the Packers for us. Is 60 million a year a lot?

  36. jcmeyer10 says: Mar 7, 2013 5:53 PM

    Nothing is leaked accidentally and everyone should thank whoever is trying to let the tax payers know the facts before voting.

  37. FoozieGrooler says: Mar 7, 2013 5:59 PM

    dmartin17 says:
    “..This just in: Private business makes modest profit. So what’s the big deal here?…”

    Them having their hand out for public money?

    Typical business model in America today.
    Socialize debt, privatize profit.

  38. braven4evr says: Mar 7, 2013 6:06 PM

    This is why the owners can pay the goofball $30 million a year!

  39. fwippel says: Mar 7, 2013 6:08 PM

    With all due respect, a business worth $1 billion clearing a profit of less than $100 million annually isn’t terrible, but it isn’t exactly great either.

    This article is should serve as the poster child for why our nation is in economic dire straights right now. The idea of a corporation clearing an eight or nine figure profit is seen as immoral, and we act shocked when we find out about it. Would we be cheering if the Panthers were losing money? Is it now considered virtuous for businesses to fail?

    It’s not like that stadium is only used ten times a year, and sits idle the other 355 days. Wake up already.

  40. catman72 says: Mar 7, 2013 6:09 PM

    The Panthers are asking the city/state for money because they “need” it, they’re asking the city/state for money because they want the city/state to invest in the future of the team and the amount of money they’re asking for makes it a darn good investment.

  41. thraiderskin says: Mar 7, 2013 6:09 PM

    I don’t see the problem… on any level

  42. jamaltimore says: Mar 7, 2013 6:10 PM

    Used to be a time in this great country when profits were celebrated. Now they are demonized at every turn and even on sports sites. put this with all the gay stories and we have a regular huff sports website!

    Having said that I don’t believe public financing is needed for sports teams. If there is public financing City should get some of the money or AT LEAST the naming rights on the building they are building. If not fund it yourself or give me some of the % profits made on ticket sales for people entering the stadium the people of the state/city helped build.

  43. jibzek says: Mar 7, 2013 6:11 PM

    Isn’t it pretty obvious that Richardson is a greedy a-hole? That was clear in the labor dispute.

  44. patsfiend says: Mar 7, 2013 6:12 PM

    No public funding of this crap.

  45. larrydavid7000 says: Mar 7, 2013 6:13 PM

    PLEASE.!!!!! valued as a Billion dollar franchies HA HA HA First of all Snyder can make that after week one victory. Second I hate to burst your bubble pft fans but North and South Carolina is still REDSKINS Country always has been and always will be. You see the founder of the REDSKINS George Preston Marshall builted an EMPIRE that streatched from the D.C. area to the deep south and as far west to texas as well. You knuckel heads their was no tv at first it was all via radio and merchandise his team as well before tv.HAIL TO THE REDSKINS. Third and for most the panthers have a loser of an owner a fan base that is 1/4 panther fans and 3/4 REDSKINS Fans. Thats why this story is all so true and an embaresment to the panthers franchies and owner. The number in any business never lie. HAIL TO THE REDSKINS.!!!!

  46. samoanjungle says: Mar 7, 2013 6:14 PM

    Steeley McBeam says:
    Mar 7, 2013 5:21 PM
    I doubt the Bengals generate much more revenue than that but they’re 55 million under the cap. At least Richardson is spending his return on putting a more high quality product on the field. Whether or not hes done that ‘well’ is a different story.
    —————————————————

    Really Steely? You think throwing money at stuff just makes it better? The Bengals have been to the playoffs 3 out of the last 4 years. How about the panthers or Redskins, Dallas…? Where were your cap-strapped Steelers last year?

  47. theytukrjobs says: Mar 7, 2013 6:16 PM

    60 million per year in profits for a company valued at 1 billion is actually mediocre. After taxes and inflation you are looking at well below what you should be able to do on the stock market.

    It depends though. If the company value increased significantly over the same time period then that 6% could be low and misleading.

    I would say that the NFL is a “safer bet” than most industries right now so this probably isn’t all that bad, but still. If you were looking to buy the Panthers for 1 billion expecting 60 mil per year in profits then you would be making a poor decision.

    I think it is generally understood that NFL owners are in it for the joy of ownership and not necessarily to get rich. NFL ain’t losing money but it also ain’t exactly Microsoft.

  48. birdzflyinhigh says: Mar 7, 2013 6:20 PM

    This shouldn’t surprise anyone, the NFL is a $9 billion per year business, where do you think the money goes?

  49. tdotsteel says: Mar 7, 2013 6:25 PM

    Where is the pro-owner crowd that wanted to butcher the players for their perceived greed during the lockout? All the sheep that were swallowing the drivel dispersed by Goodell and his band of Merrymen should be ashamed now that this information has leaked.

    How anyone in their right mind (save an ex-Enron/Worldcom CEO) supported the owners is beyond me?

  50. moeman79 says: Mar 7, 2013 6:25 PM

    wow imagine what winning teams are pulling in

  51. catman72 says: Mar 7, 2013 6:27 PM

    Hey “larrydavid” if all that is true then how come we keep beating you? LOL

    Last time I checked, you were supposed to win your “Homecoming”?

  52. catman72 says: Mar 7, 2013 6:28 PM

    The state should be embarrassed that it can’t come up with 60 million, let’s see those books.

  53. jr4real says: Mar 7, 2013 6:29 PM

    bunch of morons.

    Samsung 4Q PROFIT – $6BILLION
    not revenue. that’s profit. 1 quarter.

    Apple – $13Billion PROFIT – 1 quarter.

    You certainly won’t get on a blog and whine about you’re cell phones. And YES they get plenty of tax breaks. Including samsung. They get most of their import taxes waived. YOU Pay for their business.

    $50Mil a year. on a short term. that’s nothing.

  54. tfbuckfutter says: Mar 7, 2013 6:30 PM

    Don’t forget the Panthers have to pay a percentage of that profit in taxes.

    And obviously they are paying the same percentage of that income as Joe Six-Pack and Sally Smack-Needle, right?

    Right?

  55. dirtydrew says: Mar 7, 2013 6:35 PM

    Sounds like the Panthers could finance their own stadium upgrades. 100 million over 20 years is easy for them to finance. Probably 5.5 mill a year, easily done for an NFL team. N.C. Is a conservative state, time to do the same for the billionaire looking for a hand out from the middle class workin’ folk.

  56. pmars64 says: Mar 7, 2013 6:37 PM

    Comparisons to other investment options is ridiculous because the NFL profits are largely GUARANTEED by huge TV contracts. During the lock-out, the owners cried poverty, but were in the midst of negotiating new TV contracts that were nearly double what they were before.

    And, this is among the primary reasons why NFL franchises have increased in value to about a billion, soon to be more.

    If we adjust for inflation, the $206 million paid by Richardson in 1993 is equivalent to about $335 million today. (if you don’t believe me, go to the web and find an inflation calculator-they’re out there). So, he has roughly tripled his money in VALUE, PLUS the additional profits he’s taking in.

    In sum, Richardson is making a killing on his investment as are probably all the other owners.

  57. jimbo75025 says: Mar 7, 2013 6:37 PM

    @larrydavid7000

    Thank you. That was the funniest thing I have read all week. Do you write propaganda for North Korea as a side job?

  58. skylander14 says: Mar 7, 2013 6:40 PM

    So a bad team in a smaller market made $50 million in profit a year, wonder how much teams like the Patriots and Giants make?

  59. ss376 says: Mar 7, 2013 6:42 PM

    It’s as if no-one knows the NFL has an antitrust exemption. It’s like the government passing a law saying only Apple can make cell phones from now til forever. If you can’t make money when the government prevents anyone from competing with you, well, you shouldn’t even be trusted with marbles. So, the idea that this is some guy who, through toil and intelligence, founded some great company, and needs to be celebrated for it …. well that’s a load.

  60. alonestartexan says: Mar 7, 2013 6:47 PM

    @Larrydavid…

    First, learn English.

    Second, I have family in North Carolina, there are just as many Falcons and Steelers fans in the Carolinas as there are Redskins fans.

  61. mdpickles says: Mar 7, 2013 6:47 PM

    WELP! This just about clinches it. No more public funding for stadiums forever! The NFL and the owners make enough money off of the public to do it on their own. The fact that they made season ticket holders purchase a PSL is criminal. Rich get richer, what else is new?

  62. alonestartexan says: Mar 7, 2013 6:48 PM

    ss376,

    The only league with “anti-trust exemption” is Major League Baseball.

  63. pilot2011 says: Mar 7, 2013 6:49 PM

    the only redskins fans that live in NC are in their 60’s and 70’s… To be honest, yall can have those fans. The vast majority of this state is Panthers fans.

    p.s. when was the last time the Redskins even beat the Panthers? You guys suck, and you obviously suck.

  64. northeastkiller says: Mar 7, 2013 6:50 PM

    It’d be super if ESPN thought this story was newsworthy enough to cover…guess not. Better to just keep sucking up to the league than put the word LIAR right next to this clown’s face.

  65. thraiderskin says: Mar 7, 2013 6:53 PM

    Hey where is the story about how the crazy taxes in Maryland have made the “highest paid” quarterback in the NFL(Flacco), not the highest paid after taxes(drew Brees)?

  66. monkeesfan says: Mar 7, 2013 6:55 PM

    Yes, people will jump on this leak, but that people will jump on it shows how much ignorance of sports economics exists. That a team like the Panthers made a $112 million profit in a two-year span ignores that the team likely had to spend over $100 million to make that money. The Deadspin piece makes an issue out of the league’s CBA negotiations with the NFLPA as though the league wanted to shortchange the players; that’s not how sports economics works at any level; there is no scenario where a league will ever shortchange players. To make money they have to spend, and that always means players will get paid.

    As for renovating the stadium in Charlotte, it’s laughable when people claim “taxpayers should not pay for it” as though most of what taxpayers do pay for amounts to anything either worthwhile (the scam of entitlements as even someone like Jonathan Alter is now admitting does not qualify as worthwhile given how bankrupt they are) or which the free market can’t handle better than government. Building/renovating a stadium is not the colossal waste of taxpayer money it’s often portrayed.

  67. ziplock10 says: Mar 7, 2013 7:01 PM

    Let me see here….

    $56 million a year….

    Wants public funding for stadiums.

    Worried about the Redskins and Cowboys restructuring a few contracts.

    Which is unfair?

    Where is the Public’s penalty for “an unfair advantage?”

    What a joke.

  68. rhinojr says: Mar 7, 2013 7:05 PM

    (That’s an awful return on capital unless adjusted for what they actually paid for the team and not what it’s worth. There are plenty of companies that get public tax breaks that have a much higher rate of return. It’s not what the Panthers made that’s important re:tax payer assistance, but what do they bring to the table re:tax generations, jobs etc etc. They probably generate more for the local economy than they make in profit by far.)

    Are you an idiot? NO WAY do the Panthers contribute $100M per year in the LOCAL Charlotte economy. Jerry is one of the Cheapest people in the Universe – I hope the State shoves it up his arse – the city are just bitches so he will get that $$$

  69. rhinojr says: Mar 7, 2013 7:07 PM

    if any public $$ should be used it should be from Hotel and Motel and Car rental taxes so you morons who come visit here can pay – Not me, I am done with this organization

  70. jibzek says: Mar 7, 2013 7:09 PM

    jr4real

    This rich greedy bastard doesn’t deserve public money when he’s clearing plenty of profit.

    He needs to pay to play. He isn’t making the worlds computers either. He own’s a football team.

  71. phaktor333 says: Mar 7, 2013 7:14 PM

    The state should just say no and see if Jerry calls their bluff. Robert Kraft did it with Massachusetts and ultimately got a sweatheart deal back in 2000. However, the financial landscape has changed in the United States and a team cannot just up and leave as easy as it used to nowadays. Where are they gonna go? LA? That market where they cannot get a team and the NFL has prospered on a record level without? If this is true, the Panthers should pay for its own upgrades to the stadium and still turn a hefty profit based on the revenue sharing model.

  72. boogerhut says: Mar 7, 2013 7:18 PM

    thereisalwaysnextyear says: Mar 7, 2013 5:14 PM

    That’s an awful return on capital unless adjusted for what they actually paid for the team and not what it’s worth. There are plenty of companies that get public tax breaks that have a much higher rate of return. It’s not what the Panthers made that’s important re:tax payer assistance, but what do they bring to the table re:tax generations, jobs etc etc. They probably generate more for the local economy than they make in profit by far.
    ————————————————————–
    #1 they’re talking PROFIT for all the dolts that mention player salaries, taxes ect. PROFIT means after expenses. As far as money brought in that’s mostly rich talk sound bites for fools. Not too many people paying the mortgage working the beer stand or parking lot part time for 8/hr. #3 People are just plain sick and tired of cities selling bonds and making loans to be paid for by citizens to billionaires to fatten their PROFIT margins and lessen THEIR risks when in the end the city usually doesn’t even own the place. Billionaire welfare plain and simple. Usually achieved with the old “I’ll take my ball(team) and leave if you don’t give me some candy” crap.

  73. pmars64 says: Mar 7, 2013 7:20 PM

    Hey monkeesfan,
    $100 million PROFIT is not REVENUE and it means this is what Richardson made AFTER his expenditures, not before. You need a basic finance class.

  74. melikefootball says: Mar 7, 2013 7:23 PM

    They cry they don’t make money and we know they don’t pay taxes, like the rest of us. Nice life wouldn’t you say.

  75. jaginmi says: Mar 7, 2013 7:25 PM

    uh … jer…..721 … nice oil company comment. I am so sure you sympathized and raised money for them when they, recently, went through a multi-year period of losing money. Now that they earn a whopping 5 – 6% per year they are pure evil. Of course their product only pays for your roads, gets food to you fresh and safe and heats / cools your home proves that they are bas—–. Of course, microsoft which would shudder at less than 3 – 4 times that percentage or the NFL which would poo-poo 2 – 2.5 times that rate of profit offer REAL products of value.

    Fetch jer. And remain blissful.

  76. granadafan says: Mar 7, 2013 7:49 PM

    “vbe2 says: Mar 7, 2013 5:45 PM
    A for profit organization making a profit! Oh the scandal!!
    You people are morons.”
    ========================================================

    @vbe2, do you have reading comprehension problems. You completely and utterly missed the point of the article and the outrage. People are not objecting to making profits. Rationale people are objecting to him and all the other billionaire owners demanding millions from the cities to build their lavish stadiums.

    In my city, Wells Fargo built a 30 story or so building for regional headquarters and employing thousands of people. Why should we taxpayers have to build a bank skyscraper anymore than we should have to build a stadium that sits idle most of the year? At least bank workers show up to work at least 5 days a week and put more money back into the economy on a daily basis.

  77. dallascowboysdishingthereal says: Mar 7, 2013 7:52 PM

    And the kicker is the product on the field stunk. Then Jerry wants the city of Charlotte to pitch in and help update his stadium?

    Jerry is just breakin’ it off in the city of Charlotte…and they’re letting him.

  78. normaneinstein7 says: Mar 7, 2013 7:56 PM

    The only redskins fans that live in NC are in their 60′s and 70′s… To be honest, yall can have those fans. The vast majority of this state is Panthers fans.

    p.s. when was the last time the Redskins even beat the Panthers? You guys suck, and you obviously suck.
    ————————————————————

    That is not true. There are tons of Redskin fans in NC, more than Panther fans. Outside of Charlotte, there are very few Panther fans. NC was considered Redskins country for many years and still has a very high population of Redskin fans. Before the Panthers, the few NC born fans that weren’t Redskins fans were Cowboy fans. Why do you think that the Panther’s stadium is 75% Redskin fans when the Redskins play the Panthers in Charlotte? Most Panther fans over the age of 30 most likely grew up Redskin fans. The only one’s who deny it are Panther fans who grew up around Charlotte and under the age of 30.

    Don’t spread misinformation that most of NC cares about the Panthers. When you get towards the triangle, sandhills, and coastal areas, there aren’t many Panther fans at all. Heck, the Outer Banks still gets Redskins games. Too bad the rest of us are stuck watching the Panthers tacky arena league uniforms. I hope you guys move to LA.

  79. normaneinstein7 says: Mar 7, 2013 8:06 PM

    Second, I have family in North Carolina, there are just as many Falcons and Steelers fans in the Carolinas as there are Redskins fans.

    ———————————————–
    I’ve lived in NC all my life. The only time I ever saw any Falcon jerseys was win Vick first came into the league, and there wasn’t that many. Steeler fans are every where in the country, but they still don’t come close to the number of Redskin fans in NC. I would say there are more Cowboy fans in NC than Steeler fans.

  80. bizono says: Mar 7, 2013 8:06 PM

    Definitely read the Deadspin article to get the full flavor of just how profitable it is to own a mediocre (at best) NFL team in a small media market.

    As a side note, using public money to improve existing NFL-only stadiums is probably ALWAYS a bad use of taxpayer funds. For what? 8 regular season and 2 preseason games per year?

    Maybe it makes sense to use taxpayer funds to improve or build MLB stadiums. But the NFL needs to fund their own stadiums.

  81. badintent says: Mar 7, 2013 8:28 PM

    The CEO of Goldman Sachs makes that a year in salary and bonus. Thanks to all us taxpapers and lots of DC stupidity.

  82. wisewoo says: Mar 7, 2013 8:30 PM

    Jimmy Clausen jerseys selling like hot cakes!

  83. badintent says: Mar 7, 2013 8:32 PM

    My bad. I forgot the DC corruption part. And the banking lobby. And the CEO’s 10 visits to the White House with Obama. (wikipedia) and GS being Obama’s Biggest donor of $$$$$$$$$$$$$.

  84. mviglianco says: Mar 7, 2013 8:34 PM

    What is embarrassing is that Darin Gantt didn’t consult an accountant or anyone with some business acumen before attempting to interpret a financial document.

  85. pilot2011 says: Mar 7, 2013 8:37 PM

    well all you redskins fans in NC should be ashamed of yourselves. This is a Panthers state now.

    Charlotte and Raleigh are in the top 10 fastest growing cities in the country; most of them obviously not from NC… So it will take a while to have a statewide fan base of the Panthers.

    why else doesn’t the 3rd biggest city in the country (LA), not have a team? Because they don’t and won’t have a devout fan base to support them.

  86. keylimelight says: Mar 7, 2013 8:49 PM

    @ jr4real says: Mar 7, 2013 6:29 PM

    Please don’t talk to me about Apple and Samsung.

    As consumers, we choose to purchase their goods and services. The Panthers thing is about a private entity horning in on a pool of tax money, collected from state residents by law (without choice), to be used to maintain bridges, roads, schools, hospitals and etc. NOT for subsidies for a football stadium that is used once a week by wealthy a league.

    [And don’t call me a moron.]

  87. ytownjoe says: Mar 7, 2013 8:49 PM

    Pay up suckers or Jerry takes his football and goes to LA. Charlotte without an NFL team would become a ghost town.

  88. coachglove says: Mar 7, 2013 8:52 PM

    don’t the Return on…#’s being quoted depend on how you arrive at the denominator? ex: return on capital…if the capital investment was $200M (that was the purchase price, so that assumes all $200M was paid as capital) then $50M is a massive ROC for a low-risk business. for return on value it depends on how you arrive at the $1B value figure. the figure would likely be the value if he put the franchise up for sale, but the book value is likely a few hundred million so the ROA would still be very high because brand value is allowed on the balance sheet. the assets are really only the stadium and cash. Ballsy asking for public $. He wants to borrow at the muni rate to fund ops basically. his private rate would be higher.

  89. normaneinstein7 says: Mar 7, 2013 8:52 PM

    pilot2011 says: Mar 7, 2013 8:37 PM

    well all you redskins fans in NC should be ashamed of yourselves. This is a Panthers state now.
    ————————————————————

    No, Panther fans over the age of 30 should feel ashamed. I question a person’s loyalty and character when they switch teams. The Panthers are about as popular in NC as the Hornets were. What happened to those Hornet fans? Did they still wear their Hornet jerseys or did they go back to wearing their Celtic gear? NC does not care about the Panthers. Charlotte does.

  90. SparkyGump says: Mar 7, 2013 9:10 PM

    State and local governments have enough to deal with without being held hostage my the billionaire NFL team owners. For billionaires to scream bloody murder about paying a little more in taxes then to turn around and demand tax breaks and cash to build a stadium to house their teams is the height of hypocrisy. Pay for own house, Jerry.

  91. southcakpanther says: Mar 7, 2013 9:19 PM

    Haha! Redskins fans are just bitter because we stomped. Whole in Robert Griffin last season. They are also bitter that Cam Newton is now 2-0 against the Skins. Hail to Cam Skins fans. And welcome to Panther country.

  92. southcakpanther says: Mar 7, 2013 9:35 PM

    Hey normaneinstein, Rewatch the Panthers/Skins game from this past season. The one where we slung Griffin around like a rag doll. That dump, FedEx Field, had tons of Panther fans representing. #PantherNation

  93. mcjon22 says: Mar 7, 2013 9:43 PM

    Over $100 mil in profit, and the Panthers suck. Imagine what the good teams are bank rolling?

  94. firstvictory says: Mar 7, 2013 10:03 PM

    This is pretty funny to me. Apparently no one knows how to read financial statements. The team had a net OUTFLOW of $18 million over the two years presented (per the cash flow statement). Even if you add back in the dividends, the net OUTFLOW was $3 million. When you don’t know what you’re talking about, just yell louder.

  95. jaginmi says: Mar 7, 2013 10:33 PM

    keylimelight … you mean like the $30,000+ we taxpayers are spending for each electric car sold in the US? Or the million in tax ‘credits’ given to Apple or Google to set-up outlier facilities that employee less Americans than these companies employee as cleaning staff in India or China or Indonesia (creating cost obligations that taxpayers must meet … kind of like stadium costs). And as a ‘consumer’ do not mention the $16 BILLION we are forking out for Government Motors.

    Stadium funding by government IS absurd. In the general trend it is a spit in the ocean. And it as wrong as he–. That does not make your ‘consumer choices’ valid. It does, however, make your seperation a sign of blissfulness.

  96. Mr. Wright 212 says: Mar 7, 2013 11:45 PM

    Richardson trying to become the next Shinn, I see.

    Although this city (just moved here two months ago) was just as complicit with the Hornets’ demise — that Coliseum should have never been demolished — as Shinn was.

  97. Mr. Wright 212 says: Mar 7, 2013 11:53 PM

    ytownjoe says: Mar 7, 2013 8:49 PM

    Pay up suckers or Jerry takes his football and goes to LA. Charlotte without an NFL team would become a ghost town.
    —————

    After NY, Charlotte is the banking center of the US. This city was expanding long before the Panthers AND Hornets got here. They aided in Charlotte’s growth, but don’t think for a second that they will struggle without the team, when more than half of the people here aren’t from here (myself included, along with about 200,000 other New Yorkers).

  98. nghtrder169 says: Mar 8, 2013 12:26 AM

    And people are still stupid enough to pass paying for these guys stadiums – it’s not like the tax payers, since they pay for the damn thing, can “borrow” the stadium to have a party..lol

  99. ziplock10 says: Mar 8, 2013 11:48 AM

    pilot2011 says: Mar 7, 2013 8:37 PM

    well all you redskins fans in NC should be ashamed of yourselves. This is a Panthers state now.
    _________________________________

    LOL! I visit the OBX every year. Panthers stadium is almost 10 hours away!!!

  100. normaneinstein7 says: Mar 8, 2013 12:01 PM

    southcakpanther says: Mar 7, 2013 9:35 PM
    ————————————————————
    Hey normaneinstein, Rewatch the Panthers/Skins game from this past season. The one where we slung Griffin around like a rag doll. That dump, FedEx Field, had tons of Panther fans representing. #PantherNation
    ———————————————————

    Hey, I want to thank you for that loss. After the Redskins (North Carolina’s team) lost to your lowly team, it provided a wake up call and gut check for us. The Redskins went on a 7 game win streak and won the division for the 1st time since 1999. Our rookie QB turned around our franchise in one year. Your franchise QB hasn’t had a winning season yet and sulks on the bench when things go wrong. My QB limps out on one leg trying to win for his team. The Redskins have a warrior at QB. You have a sulker who pouts on the bench.

  101. dallascowboysdishingthereal says: Mar 8, 2013 1:13 PM

    I really don’t care how much money Jerry Richardson makes or any other NFL owner for that matter as long as they keep their greedy hands out of tax payers pockets. Government has more important needs to tend to than making sure Jerry has the nicest luxury box seats around.

  102. southcakpanther says: Mar 8, 2013 1:26 PM

    normaneinstein7 says:
    Mar 8, 2013 12:01 PM
    southcakpanther says: Mar 7, 2013 9:35 PM
    ————————————————————
    Hey normaneinstein, Rewatch the Panthers/Skins game from this past season. The one where we slung Griffin around like a rag doll. That dump, FedEx Field, had tons of Panther fans representing. #PantherNation
    ———————————————————

    Hey, I want to thank you for that loss. After the Redskins (North Carolina’s team) lost to your lowly team, it provided a wake up call and gut check for us. The Redskins went on a 7 game win streak and won the division for the 1st time since 1999. Our rookie QB turned around our franchise in one year. Your franchise QB hasn’t had a winning season yet and sulks on the bench when things go wrong. My QB limps out on one leg trying to win for his team. The Redskins have a warrior at QB. You have a sulker who pouts on the bench.
    —————–
    Ha! Griffin is damaged goods homie. Cam is undefeated against the lowly Redskins. Ill take Cam over Bob Glass 6 days a week and twice on Sunday. I hope the Native Americans win their current lawsuit to change the name of your team. That would make me smile as much as seeing CJ body slam Bob Glass.

  103. bamboozle99 says: Mar 12, 2013 5:28 AM

    How can you blame any of them? These owners had people believe they couldn’t afford a raise for officiating crews. They’ll always cry for more, do you want to believe them? That’s up to you.

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